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Social Analytics for Cryptocurrencies
The document discusses the application of social analytics and natural language understanding in the cryptocurrency market, highlighting the limitations of traditional sentiment analysis and topic extraction methods. It emphasizes the transformative impact of transformer models like GPT-3 in enhancing language intelligence capabilities relevant to crypto analytics, such as news summarization, classification, and question-answering. The summary also notes that while these advanced techniques hold great potential, they are still costly and require domain-specific training.
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Social Analytics for Cryptocurrencies
- 1. Social Analytics forCrypto: Myths, Realities, GPT-3 and Some Astonishing Data Science April 2021
- 2. Agenda ● Traditional languageanalytics and crypto markets ● Transformers and GPT-3 ● New language intelligence capabilities that crypto experts should be excited about SOCIAL ANALYTICS FOR CRYPTO: MYTHS, REALITIES, GPT-3 AND SOME ASTONISHING DATA SCIENCE
- 3. A quick updateabout IntoTheBlock…
- 4. Lots of newcustomer launches… SOCIAL ANALYTICS FOR CRYPTO: MYTHS, REALITIES, GPT-3 AND SOME ASTONISHING DATA SCIENCE
- 5. SOCIAL ANALYTICS FORCRYPTO: MYTHS, REALITIES, GPT-3 AND SOME ASTONISHING DATA SCIENCE
- 6. SOCIAL ANALYTICS FORCRYPTO: MYTHS, REALITIES, GPT-3 AND SOME ASTONISHING DATA SCIENCE
- 7. New ITB CorpWebsite SOCIAL ANALYTICS FOR CRYPTO: MYTHS, REALITIES, GPT-3 AND SOME ASTONISHING DATA SCIENCE
- 8. Upcoming Exciting Features ●Curve DeFi analytics ● New blockchain ownership indicators ● Social analytics ● NFT analytics SOCIAL ANALYTICS FOR CRYPTO: MYTHS, REALITIES, GPT-3 AND SOME ASTONISHING DATA SCIENCE
- 9. Natural language understandingand crypto: A traditional perspective
- 10. The Key Question Canwe extract alpha by analyzing social data feeds for crypto-assets? SOCIAL ANALYTICS FOR CRYPTO: MYTHS, REALITIES, GPT-3 AND SOME ASTONISHING DATA SCIENCE
- 11. Maybe But it’s notas simple as you might think… SOCIAL ANALYTICS FOR CRYPTO: MYTHS, REALITIES, GPT-3 AND SOME ASTONISHING DATA SCIENCE
- 12. The crypto marketis dominated by narratives...
- 13. Large number ofhighly diverse sources of narratives…
- 14. But narratives arehard to quantify in an actionable way… SOCIAL ANALYTICS FOR CRYPTO: MYTHS, REALITIES, GPT-3 AND SOME ASTONISHING DATA SCIENCE
- 15. Text Intelligence Social DataFees Sentiment Analysis News/Market Commentary Fees Topic Analysis SOCIAL ANALYTICS FOR CRYPTO: MYTHS, REALITIES, GPT-3 AND SOME ASTONISHING DATA SCIENCE Text Intelligence for Capital Markets has been Dominated by Two Main Techniques
- 16. Assigns a numericscore to a text representation based on its affective state Sentiment Analysis SOCIAL ANALYTICS FOR CRYPTO: MYTHS, REALITIES, GPT-3 AND SOME ASTONISHING DATA SCIENCE
- 17. Extracts key topicsand entities from long-form textual representations Topic Analysis SOCIAL ANALYTICS FOR CRYPTO: MYTHS, REALITIES, GPT-3 AND SOME ASTONISHING DATA SCIENCE
- 18. Some Key Observations SOCIALANALYTICS FOR CRYPTO: MYTHS, REALITIES, GPT-3 AND SOME ASTONISHING DATA SCIENCE Topic and sentiment analysis are both reductionist techniques that compact information into a single- term representation 1 Both types of techniques need to be heavily trained into a specific domain such as crypto markets and they are expensive to maintain 2 Noisy environment like crypto can drastically impact the effectiveness of sentiment and topic analysis methods 3
- 19. Sentiment and topicanalysis are still far away from methods that resemble how humans consume financial information….
- 20. Today we cando so much more... SOCIAL ANALYTICS FOR CRYPTO: MYTHS, REALITIES, GPT-3 AND SOME ASTONISHING DATA SCIENCE
- 21. Transformers, language pretrainedmodels and the language intelligence revolution… SOCIAL ANALYTICS FOR CRYPTO: MYTHS, REALITIES, GPT-3 AND SOME ASTONISHING DATA SCIENCE
- 22. You have probablyheard about GPT-3
- 23. GPT-3 is themost popular example of an architecture that has revolutionized the deep learning space…
- 24. Started with aGroundbreaking Paper from Google Research in 2018 SOCIAL ANALYTICS FOR CRYPTO: MYTHS, REALITIES, GPT-3 AND SOME ASTONISHING DATA SCIENCE
- 25. That Introduced aNew Architecture Based on Attention Mechanisms SOCIAL ANALYTICS FOR CRYPTO: MYTHS, REALITIES, GPT-3 AND SOME ASTONISHING DATA SCIENCE
- 26. Transformers completely revolutionizednatural language understanding and gave birth to the concept of “language pretrained models”… SOCIAL ANALYTICS FOR CRYPTO: MYTHS, REALITIES, GPT-3 AND SOME ASTONISHING DATA SCIENCE
- 27. ● Train amodel in a large textual corpus (ex: Wikipedia) ● Fine-tune it for specific tasks ● Is the analogous of a “well-read” human expert Language Pretrained Models SOCIAL ANALYTICS FOR CRYPTO: MYTHS, REALITIES, GPT-3 AND SOME ASTONISHING DATA SCIENCE
- 28. Multi-Task Language ModelParadigm SOCIAL ANALYTICS FOR CRYPTO: MYTHS, REALITIES, GPT-3 AND SOME ASTONISHING DATA SCIENCE
- 29. And the Raceto Master Natural Language Started…
- 30. Bigger is Better SOCIALANALYTICS FOR CRYPTO: MYTHS, REALITIES, GPT-3 AND SOME ASTONISHING DATA SCIENCE
- 32. Bringing transformers tocrypto analysis: The possibilities….
- 33. Transformers changed naturallanguage understanding, but how are they relevant to crypto analytics today? SOCIAL ANALYTICS FOR CRYPTO: MYTHS, REALITIES, GPT-3 AND SOME ASTONISHING DATA SCIENCE
- 34. Some Key Scenarios SOCIALANALYTICS FOR CRYPTO: MYTHS, REALITIES, GPT-3 AND SOME ASTONISHING DATA SCIENCE News Summarization News / Tweets Classification Question Answering Text Generation Machine Translation
- 35. News Summarization Goal ● Generate3-4 sentences summaries of top crypto news Value ● Help users understand the key points of different long-form news SOCIAL ANALYTICS FOR CRYPTO: MYTHS, REALITIES, GPT-3 AND SOME ASTONISHING DATA SCIENCE
- 36. One-Shot Classification Goal ● Classifynews/tweets based on specific categories relevant to the crypto market like “”bullish”, “bearish”, “risk”, “trading”, etc. Value ● Help users filter content based on different perspectives SOCIAL ANALYTICS FOR CRYPTO: MYTHS, REALITIES, GPT-3 AND SOME ASTONISHING DATA SCIENCE
- 37. Question-Answering Goal ● Produce answersto long-form text questions about crypto news Value ● Allow users to ask specific questions about the crypto market and review relevant news SOCIAL ANALYTICS FOR CRYPTO: MYTHS, REALITIES, GPT-3 AND SOME ASTONISHING DATA SCIENCE
- 38. Text Generation Goal ● Generatetext narratives based on crypto-datasets. Ex: futures, blockchain activity… Value ● Help investors to review market datasets using interpretable, text-based explanations SOCIAL ANALYTICS FOR CRYPTO: MYTHS, REALITIES, GPT-3 AND SOME ASTONISHING DATA SCIENCE
- 39. Machine Translation Goal ● Createaccurate translations of crypto news Value ● Expand crypto market knowledge to many languages and dialects SOCIAL ANALYTICS FOR CRYPTO: MYTHS, REALITIES, GPT-3 AND SOME ASTONISHING DATA SCIENCE
- 40. These scenarios arepossible with today’s technologies… SOCIAL ANALYTICS FOR CRYPTO: MYTHS, REALITIES, GPT-3 AND SOME ASTONISHING DATA SCIENCE
- 41. Transformer Models areExpensive but Available SOCIAL ANALYTICS FOR CRYPTO: MYTHS, REALITIES, GPT-3 AND SOME ASTONISHING DATA SCIENCE
- 42. And we areworking on it… SOCIAL ANALYTICS FOR CRYPTO: MYTHS, REALITIES, GPT-3 AND SOME ASTONISHING DATA SCIENCE
- 43. Summary ● Language intelligenceis incredibly relevant in the current state of the crypto markets ● Traditional models are based on sentiment analysis and topic extraction techniques ● Transformers represent a massive evolution in natural language intelligence ● Scenarios such as text generation, translation, question-answering, long-form summarization and classification are very relevant to the crypto space SOCIAL ANALYTICS FOR CRYPTO: MYTHS, REALITIES, GPT-3 AND SOME ASTONISHING DATA SCIENCE
- 45.